SG Morning Highlights | Retail and Institutions Net Buy Industrial and Retail S-Reits in August
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened higher on Monday; STI up 0.38%
●Retail and institutions net buy industrial and retail S-Reits in August
●How Singapore's publicly-listed companies performed in 2022
●Will Singapore's Equity Capital Markets Sustain Its Growth in 2H23
●Stocks to watch: Seatrium, Parkson, Straits Trading
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened higher on Monday. The $FTSE Singapore Straits Time Index (.STI.SG)$ rose 0.38 per cent to 3,219.91 as at 9.11 am.
Advancers / Decliners is 78 to 59, with 78.99 million securities worth S$51.16 million changing hands.
Breaking News
Retail and institutions net buy industrial and retail S-Reits in August
Retail investors were net buyers of S-Reits in August, with net fund flows exceeding S$187 million, while institutional investors net sold the sector, paying S$94 million. Some of the top net buy sectors by retail investors were diversified Reits (+S$104.8 million), hospitality Reits (+S$40.6 million), and industrial Reits (+S$22.0 million). On the other hand, industrial Reits (+S$55.4 million) and retail Reits (+S$4.3 million) were the only two net buy sectors by institutional investors. Industrial Reits and retail Reits were also two sectors that recorded inflows across retail and institutional investors.
How Singapore's publicly-listed companies performed in 2022
Singapore has 626 publicly listed companies as of the end of last year.Public companies in Singapore recorded a revenue of US$445.7b in 2022, data from GlobalData showed. Amongst the top 25 cities in terms of GDP, Singapore ranked 18th in terms of revenue from public companies. According to GlobalData's figures, Singapore's publicly-listed companies also performed better in 2022 in revenue terms. In 2021, Singapore's companies recorded a US$401.5b revenue. As of 2022, Singapore has 626 publicly-listed companies.
Will Singapore's Equity Capital Markets Sustain Its Growth in 2H23
In 1H23, equity capital raisings by Singaporean firms totalled US$2.6b. Singapore's equity capital market (ECM), alongside that of India and other Southeast Asian markets, could potentially benefit from investors seeking alternative growth aside from China in the second half of the year, according to an analyst. Elaine Tan, senior analyst at Refinitiv Deals Intelligence, said the return of tourism to Southeast Asia may also uplift the ECM market of Singapore. But Tan noted that the economic environment is still shifting and it can yet be determined if Singapore will be able to sustain its growth in 2H23. In terms of sectors, she said technology, industrials, logistics, and retail could potentially benefit from the abovementioned factors.
Stocks to Watch
$Seatrium (S51.SG)$ : Seatrium on Friday (Sep 8) said it has a balance of S$300 million in net proceeds from its rights issue back in 2021, after the latest use of S$100 million for the repayment of a loan facility. The rights issue had raised some S$1.5 billion in net proceeds for the offshore and marine group. The company said the latest utilisation of the proceeds is in accordance with the intended use of net proceeds. Seatrium added that it will continue to make periodic announcements on the use of the net proceeds as and when they are materially disbursed.
$Parkson Retail (O9E.SG)$ : Parkson Corporation, a unit of Parkson Retail Asia, was served with an amended writ and statement of claim dated Sep 3 as part of its ongoing legal proceedings with PKNS Andaman Development. In a filing to the Singapore Exchange on Friday (Sep 8), Parkson Retail warned that its financial position for the financial year ending Dec 31 would see an “adverse impact” if the outcome of the legal proceedings do not ultimately wind up in its unit’s favour, and if the unit is required to settle the amended claims in full.
$Straits Trading (S20.SG)$ : Investment company Straits Trading has launched a new product that provides fractionalised exposure to real estate as it seeks to improve accessibility to properties that have high barriers to entry. The mainboard listed company said on Sunday (Sep 10) that it has launched two new property investment products under its Fractionalised Investment Real estate-Straits Trading (FIR-ST) programme. The underlying properties being offered are a freehold Good Class Bungalow (GCB) at 8A Cable Road, Chatsworth Park, and a 999-year leasehold condominium unit in Duchess Residences at Bukit Timah.
Latest Share Buy Back Transactions
Source：Business Times, SG investors
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